- Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to 6 percent in 2025, an increase from the earlier prediction of 5.5 percent. This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound...
Jordan apprises US delegation of trade opportunities in kingdom
A workshop held by the JCC and working meetings with a number of ministers and representatives of official entities, universities and private sector institutions explained about the opportunities.Nahdi posts $226million profit
The Jeddah-based pharma retailer plans to float 30 percent of its capital.GCC startups begin 2022 on a promising note
Digital economy has driven the startup investment upsurge in the MENA region in 2021.Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the $1 billion that has been claimed.UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the cost of treatment of several diseases.SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.Lebanon’s ‘zombie banks’ downsize to weather crisis
More than two years into a financial crisis that has seen the local currency lose 90 percent of its value, the reputation of Lebanese lenders has been shredded.Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin Hamad Al Khalifa.UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that the UAE views climate action as a key enabler of stability and economic prosperity.UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per cent to 50 percent.IMF praises UAE for the handling of economy during pandemic
The UAE government has been praised by no less than the International Monetary Fund for the handling of its economy during the pandemic.Digital banks help Kuwait keep pace with global trends: CBK official
Executive Director of the Supervision Sector at the Central Bank of Kuwait, Waleed Al-Awadhi said that the digital banks will have no branches.Morocco fish production reaches 1.4 million tons in 2021
This remarkable performance was recorded in the three segments of fisheries: artisanal fishing, coastal fishing and deep-sea fishing.New UAE decree boosts safety of construction workers
The decree details the responsibilities of both employees and employers to ensure work stability and increase productivity in the workplace.WB ready to pair with Tunisia to implement reform program
The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country.Italy forks out fresh six billion euros in energy aid
"We are putting nearly eight billion euros on the table, including six billion in energy aid", PM Mario Draghi told a news conference.GCC eyes floating hotels, eateries to buoy tourism
Floating restaurants and hotels could be a significant supporting player as the GCC region aspires to increase its footprint as a global tourism hub.Europe’s Investment in Palestinian economy touches $1.61bn
Around 60% of $1.61 billion were committed only in the last two years showing remarkable growth in mobilization of finance for Palestine.Qatar to distribute cash assistance for February to Gaza needy
Cash assistance will be provided at a rate of USD 100 per family.UAE, Hungary sign MoU to establish joint business council
The UAE Federation of the Chambers of Commerce and Industry (FCCI) and the Hungarian Chamber of Commerce and Industry (HCCI) will establish a UAE-Hungarian Business Council. The two parties signed an MoU at the Hungarian pavilion at Expo 2020 Dubai regarding the same on the sidelines of the third meeting...Governors of UAE and Turkey central banks to collaborate in banking sectors
The meeting was held on the sidelines of the official visit of Turkish President to the UAE.UAE Cabinet okays trading cooperative shares on financial markets
The move is said to be conducive to strengthening the regulatory environment of the cooperatives sector and driving their economic returns.Bahrain updates Covid protocols, cancels isolation for contacts of active cases
Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is positive.National Water Carrier Project will be completed by 2027: Jordan PM
The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said.Global trade hit record $28.5trn in 2021: UNCTAD
The UNCTAD’s Global Trade Update said all major trading economies saw imports and exports rise above pre-pandemic levels in the fourth quarter of 2021.World fuels its own destruction with $1.8trn subsidies: Study
Governments across the world pay an estimated $640 billion in support to the fossil fuel industry.Morocco announces $1 bn relief for drought-hit agriculture industry
Morocco said Wednesday it will launch a nearly $1 billion aid program to help its agriculture industry, which has been hit hard by a particularly acute drought in recent years. The emergency plan "aims to mitigate the effects of delay in rainfall, to alleviate the impact on agricultural activity and...One-horse open sleigh ride across frozen Turkish lake
The region mainly produces cheese but because of harsh and long winter such activity is rare so tourists on board horse-drawn sleighs are a small supplement to the income of locals.Riyadh Economic Forum to hold 10th session in November
Chairman of the Riyadh Chamber Ajlan Al-Ajlan said the generous patronage from the king Salman bin Abdulaziz has enhanced the role of the forum.Borsa Istanbul to provide consultancy services to Abu Dhabi Securities Exchange
The MoU is the latest in a series of strategic partnership agreements signed by ADX as part of its strategy for growth, announced at the beginning of 2021.UAE and Turkey to cooperate in agriculture, rural development
The pact is in line with the UAE’s leadership to enhance international cooperation and exchange of successful experiences.MAWANI signs pact with Bahri to build logistics park
The Saudi Ports Authority (MAWANI) signed an agreement with shipping giant Bahri to build and operate an integrated logistics park on land leased at the Jeddah Islamic Port with a total area of 95436m2. President of MAWANI Omar Talal Hariri and Eng. Abdullah Ali Aldubaikhi, CEO of Bahri signed the...Pandemic turns business models upside down, says Fjord Trends report
Nearly two years of disruption to the fabric of society due to global pandemic has resulted in a collective shift in people’s relationships with work, consumerism, technology, and the planet, pushing companies to design new ways of doing business, according to the annual Fjord Trends report from Accenture. Newly identified...UAE industrial exports surge to $32.6bn in 2021: Ministry of Industry
According to the 2021 annual report released by the Ministry of Industry and Advanced Technology, the rise in exports coincided with a major surge in factories commencing production in 2021, with 220 new facilities going into service.Algeria president announces unemployment benefit for youth
The payments will be made "to preserve the dignity of young people", Algerian president Tebboune said.Markets rally on hopes for easing Russia-Ukraine tensions
While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a conflict in Eastern Europe.Sharjah Police returns around AED500m to owners in 2021
A number of beneficiaries of the initiative are said to have expressed their happiness as they were able to recover their money without resorting to courts.UAE’s Dragon Oil announces first oil find in Egypt’s Gulf of Suez
The discovery is one of the largest in the area in the past 20 years, and the field could contain around 100 million barrels in reserves.Elm to list on TASI
The final offer price was set at SR128 ($34.1) per share, the top end of an indicative range.Saudi inflation hovers at 1.2% despite spike in food prices
In spite of an increase in transport and food costs, inflation in Saudi hovered at 1.2 percent in January, according to the Kingdom’s General Authority of Statistics, also known as GASTAT.Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.Jordan passes 2022 budget with spending volume of over JD12 billion
The government’s action prioritizes the completion of the regional electricity linkages with Egypt, Palestine, Iraq, and Lebanon.How economically free are GCC countries?
In economically free societies, governments allow labor, capital, and goods to move freely.US considers $1 bn loan guarantees for Ukraine
Europe's poorest country Ukraine's corruption-plagued economy has suffered from increased tensions over the possibility of an invasion by Russia.GCC states stress women’s rights to Taliban
Amir Khan Muttaqi, a key member of the Taliban leadership, met in Doha with ambassadors from the six-nation GCC on the first full day of his latest mission.Hassyan Power Complex adds 1,200 MW to Dubai’s capacity
Dubai Electricity and Water Authority (DEWA) has said the production capacity of Hassyan Power Complex reached 1,200 megawatts (MW), using the Independent Power Producer (IPP) model. A further 600 MW will be added in Q4 of 2022, and an additional 600 MW will be added by Q3 of 2023. This...JEA to provide jobs for Jordanian engineers in KSA
One in every 40 Jordanians is an engineer, making Jordan the country with the most engineers per capita globally.Bahrain and Egypt share solid relations: Fawzia bint Abdulla Zainal
Bahrain and Egypt share solid long-standing brotherly relations, and there is steady progress in it due to their deep partnership and coordination in all fields, said speaker of Bahrain's Council of Representatives Fawzia bint Abdulla Zainal during his meeting with Speaker of the Egyptian House of Representatives, Chancellor Hanafy Ali...Norway vows to increase funding for UNRWA
Norway's Minister has called on other donors as well to increase their funding for UNRWA.West Libya defends naming of new PM
An influential figure in western Libya, Mechri accused Dbeibah's government of "fueling a campaign against the parliament and the HCS".



















































